Early Hours News Updates: Lagos Activist Sues President Buhari over Inadequate Supply of Petroleum products and other news.

Early Hours News Update Headlines:
* Lagos Lawyer Sues President Buhari Over Inadequate Supply of Petroleum Products
* DISCOs Set to Disconnect Military, Police Barracks and other Public offices Over N26 billion Debt.
* Nigerian Deposit Money Banks Continues Publication of Names of Chronic Debtors

A lawyer and rights activist, Kabir Akingbolu has dragged President Muhammadu Buhari before a Federal High Court sitting in Lagos over his failure to make adequate pro - See more at: http://www.vanguardngr.com/2015/08/lagos-lawyer-sues-buhari-over-inadequate-fuel-supply/#sthash.gdyV28i2.dpufNigerian Deposit Money BanksContinues Publications of Chronic debtors Names

A lawyer and rights activist, Kabir Akingbolu has dragged President Muhammadu Buhari before a Federal High Court sitting in Lagos over his failure to make adequate provision for the production and supply of petroleum products to all citizens at regulated prices. - See more at: http://www.vanguardngr.com/2015/08/lagos-lawyer-sues-buhari-over-inadequate-fuel-supply/#sthash.gdyV28i2.dpuf

Lagos Lawyer Sues President Buhari Over Inadequate Supply of Petroleum Products

Lagos human rights activist and a lawyer, Kabir Akingbola has sued the the Nigerian president, President Muhammadu Buhari over his inadequacy in the production and supply of petroleum products over the past months. His suit was submitted in the Federal High Court and also named the Attorney general as second defendant.

Akingbola is requesting the court to declare that the defendants (Buhari and AGN) inability to provide the country citizens with petroleum products as a breach of 'oath of peace.' And the non-functioning refineries as a breach of Constitutional Obligation of Section 130 (1&2) under the 1999 constitutional amended.

Presently, there are reports that two of the refineries (Warri & Port-Harcourt) have commenced petroleum production.

DISCOs Set to Disconnect Military, Police Barracks and other Public Offices Over N26 billion Debt.

DISCOs which comprises of the various power/electricity  supply companies within the nation have threatened to start disconnection of  military, police barracks and other public offices over an alleged non payment of N26billion debt all over the nation.  The Director of the Association of Nigerian Electricity Distributors (ANED), Research and advocacy, Sunday Oduntan disclosed the break down that; the Military and MDAs at both the Federal and State level are owing N6.7 biliion to the Kaduna DISCO; N5.2 billion to the Ibadan DISCO; N2.3 billion to the Eko DISCOs; N7 billion to the Abuja DISCOs N3.8 billion to Benin DISCO and; N860 million to Kano DISCO. Other debts owed to other DISCOs amounted to the huge total of N26billion.

He said the huge debt owed the DISCOs all over the nation is sabotaging their adequacy in supply of power/electricity.

Giving a breakdown of the debt, Oduntan claimed that the Military and MDAs at both the Federal and state levels are owing N6.7 billion to the Kaduna DISCO; N7 billion to the Abuja DISCO; N5.2 billion to Ibadan DISCO; N2.3 billion to the Eko DISCO; N3.8 billion to the Benin DISCO and; N860m to the Kano DISCO, just as the debts owed other DISCOs run to several billions of Naira. - See more at: http://www.vanguardngr.com/2015/08/n26bn-debt-discos-disconnect-police-military-barracks-others/#sthash.7bcLqm15.dpufisclose the break down. 

Giving a breakdown of the debt, Oduntan claimed that the Military and MDAs at both the Federal and state levels are owing N6.7 billion to the Kaduna DISCO; N7 billion to the Abuja DISCO; N5.2 billion to Ibadan DISCO; N2.3 billion to the Eko DISCO; N3.8 billion to the Benin DISCO and; N860m to the Kano DISCO, just as the debts owed other DISCOs run to several billions of Naira. - See more at: http://www.vanguardngr.com/2015/08/n26bn-debt-discos-disconnect-police-military-barracks-others/#sthash.7bcLqm15.dpuf

Akingbolu is asking the court to declare that the failure of the defendants (Buhari and AGF) to make available petroleum products as a breach of oath of office, and that the failure to fix the refineries in the country was equally a breach of the constitutional obligation of the president.

- See more at: http://www.vanguardngr.com/2015/08/lagos-lawyer-sues-buhari-over-inadequate-fuel-supply/#sthash.gdyV28i2.dpuf

Nigerian Deposit Money Banks Continues Publication of Names of Chronic Debtors

A lawyer and rights activist, Kabir Akingbolu has dragged President Muhammadu Buhari before a Federal High Court sitting in Lagos over his failure to make adequate pro - See more at: http://www.vanguardngr.com/2015/08/lagos-lawyer-sues-buhari-over-inadequate-fuel-supply/#sthash.gdyV28i2.dpufNigerian Deposit Money BanksContinues Publications of Chronic debtors Names

A lawyer and rights activist, Kabir Akingbolu has dragged President Muhammadu Buhari before a Federal High Court sitting in Lagos over his failure to make adequate provision for the production and supply of petroleum products to all citizens at regulated prices. - See more at: http://www.vanguardngr.com/2015/08/lagos-lawyer-sues-buhari-over-inadequate-fuel-supply/#sthash.gdyV28i2.dpuf

Nigerian Deposit Money Banks on Monday continued with the policy of naming and shaming their delinquent debtors with further publication of the names of firms and their directors whose loans have become non-performing for more than one year. While nine banks published the names of the loans defaulters on Monday, four banks released the lists of their chronic debtors, owing a total of N143.81bn, on Tuesday. The four banks are First Bank of Nigeria Limited, Access Bank Plc, Diamond Bank Plc and Unity Bank Plc. The banks, which had published the list of their delinquent debtors on Monday were Zenith Bank Plc, Guaranty Trust Bank Plc, Union Bank Plc, Sterling Bank Plc, Skye Bank Plc, Fidelity Bank Plc, Stanbic IBTC Bank, Heritage Bank Limited and Enterprise Bank Limited. First Bank, which has its total amount of non-performing loans as N43.72bn, published 92 names of delinquent debtors.

The first five companies on the lender’s list owe a combined sum of N23bn. These are Ajaokuta Steel Company Limited, Starcomm Plc; BGL Securities Limited, where a former Minister of Finance and National Planning, Kalu Idika Kalu, is a director; Shield Petroleum Limited and Fargo Petroleum and Gas Limited. Shield Petroleum, the number one on the list, owes N6.883bn; while Zurich International Service, the last on the list, owes N26.69m.

Access Bank Plc published a list of 11 delinquent debtors, with a combined NPL figure of approximately N3.4bn. Top on the list are Bioka Ventures Limited, which owes N1.15bn, while Derukas International Limited was last on the list with a debt of N56.3m. Diamond Bank Plc has N47.17bn as its total NPLs, with companies belonging to prominent Nigerians owing sizeable amounts. These include Sir Emeka Offor’s Global ScanSystem Limited, which the bank says owes N181m; a former Chairman, House of Representatives Committee on the Diaspora, Mrs. Abike Dabiri-Erewa’s Thriller Eneavours, which owes N122m; and a former Delta State Commissioner for Sports Solomon Ogba’s Delta Mega Trend Limited, which owes N89m.

Unity Bank also released 260 names of delinquent debtors with a combined NPL figure of N45.52bn. The list has the companies of some prominent Nigerians. These include Umar Mutallab’s DeanShanger Project Limited, N3.6bn; Senator Ayodele Arise and a former Minister of State for Works, Mr. Dayo Adeyeye’s International Payment Devices Limited, N81.9m; and Prince Adeyanju Olateru-Olagbegi’s Cupid Investment BDC, N90.1m. Other prominent companies on the list are Ekiti Kete Mass Transit, which owes N991m; Fargo Petroleum and Gas Limited, N2.5bn; Ava Cement Limited, N.8bn; and Plywood Chemical and Accessories, N1.1bn. Ava Cement topped Unity Bank’s debtors’ list with N9.8bn, while Malcolm Akpokodje owes the least with N20m.

Have a fruit bearing day. Cheers!